Interviews
China increases import quota for Australian wool in 2024 by 5%
27 Dec '23
1 min read
Pic: Adobe Stock
Insights
- China has raised Australia's 2024 import quota for zero-tariff wool products by 5 per cent YoY to 44,324 tonnes.
- The import quota for New Zealand wool next year was retained at 36,936 tonnes and that of the country's wool tops will be 665 tonnes.
- China accounted for 82 per cent of Australia's wool exports between July 1 and December 31, 2022.
China recently raised by 5 per cent year-on-year (YoY) Australia’s import quota for zero-tariff wool products next year to 44,324 tonnes, while retaining the existing quota of the same products for New Zealand. The rise in Australia’s quota is in line with the terms of their bilateral free trade agreement (FTA).
The import quota for New Zealand wool next year will be 36,936 tonnes and that of wool tops from that country will be set at 665 tonnes, according to China's commerce ministry and the general administration of customs.
While China accounted for 82 per cent of Australia's wool exports between July 1 and December 31, 2022, India bought only 5 per cent, a Chinese state-controlled media outlet reported citing data from the Nanjing Wool Market.
Fibre2Fashion News Desk (DS)
Popular News
Leave your Comments
Editor’s Pick
Kimberly Morgan and Rik Veltman
K3 Business Technology Group PLC
Siddhaarth Oberoi
Siddhaarth Oberoi Shirts (SOS)
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
